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Trendbasedfib

Daily review of BTC interval 4HHello everyone, let's look at the BTC to USDT chart on a 4-hour timeframe. As you can see, the price has been moving in the uptrend channel marked with blue lines for a long time, we can see attempts to exit the channel downwards, however, the price defended itself and quickly started to go up. Let's start with setting the support line and as you can see, the price has moved back to around 0.61 Fib, which is a strong support at $ 17,705, if the support is broken, the next support is $ 17,624, $ 17,513 and $ 17,220, which is also very strong support as before was a strong resistance for the price. Interestingly, we can now mark the first, second, third and fourth wave we are currently in, interestingly, there is no divergence, does this mean that we can see the fifth wave? Now let's move on to the resistance line, as you can see the first resistance is at $17884, if you break it, the next resistance will be at $18045, the third resistance is at $18183 and the fourth at $18813. Please take a look at the CHOP index which indicates that the energy has been used on the four-hour interval, while on the RSI we see that we are very high which often indicates a price correction.
by cryptodailyuk
Daily review of BTC interval 4HHello everyone, let's look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price is moving above the local downtrend line. Let's start with the support line and as you can see the first support in the near future is $16960, if the support is broken then the next support is $16900, $16852 and $16804. Now let's move on to the resistance line, as you can see the first resistance is $17032, if you manage to break it, the next resistance will be $17130, $17210 and $17292. Looking at the CHOP indicator, we see that in the 4-hour interval some of the energy has been used, the MACD indicates that we are moving in a downtrend.
by cryptodailyuk
Daily review of BTC interval 4HHello everyone, let's look at the BTC to USDT chart on a 4-hour timeframe. As you can see, the price has moved sideways from the local downtrend line. Let's start with the fact that the price shot up and immediately reached the place of 0.61 Trend-Based Fib Retracement, but quickly returned to the starting place, so again we can consider the previous places as valid resistances and so we have the first resistance at the price of $ 17185, the second at $17,216, the third at $17,241 where the price reversed, then $17,267 and $17,303. Only when BTC overcomes these resistances and then positively tests them will we be able to move on. Now let's move to the support line, as you can see in the coming hours we have the first resistance at $17159, if the price goes lower, the next resistance is $17131, $17088 and $17037. Looking at the CHOP indicator, we see that in the 4-hour interval we still have a lot of energy for the next move, the MACD indicator indicates a local downtrend, while on the RSI we are quite high, however, the place where we are may indicate a sideways trend.
by cryptodailyuk
1
LUNAUSDT - 4H Interval - Targets and StoplossHello everyone, let's look at the 4H LUNAUSDT chart as you can see that the price is moving in the uptrend channel, however it has locally moved sideways from the uptrend line in the channel. Let's start by setting goals for the near future that we can take into account: T1 - $1.6663 T2 - $1.6928 T3 - $1.7154 T4 - $1.7373 and T5 - $1.7694 Now let's move on to the stop loss in case the market goes down further: SL1 - $1.6464 SL2 - $1.6114 SL3 - $1.5821 SL4 - $1.5533 and SL5 - $1.5145 Looking at the CHOP indicator, we see that the energy is strongly charged on the 4H interval, the MACD indicator indicates entering a local uptrend, while the RSI shows that despite we are high, we have room for further growth, but it is worth keeping the SL.
by cryptodailyuk
1
ADA/USDT 1D INTERVAL - Resistance and SupportThe last one in today's ranking is the ADA chart, this time on a four-hour interval. As we can see, in the first place, we can mark the uptrend channel in which the price is moving, what's more, we are currently at the lower limit of this channel. Now, using the Trend-Based Fib Extension tool, we see that we currently have the first support in the coming hours at $0.311, but if it breaks, we have another support at $0.308, then at $0.306 and $0.303. Looking the other way, we can mark resistance points for the price in the same way, and so we have the first resistance at $ 0.314, from which the price has already fallen once, then we have resistance at $ 0.318, the next at $ 0.321 and the next at $ 0.325 . In addition, locally, we can mark the downtrend line under which the price is currently located. On the CHOP index we see very charged energy, MACD confirms that we are in the local uptrend, while on the RSI we are below half, which indicates that at the turn of several hours we have room for increases.
by cryptodailyuk
4
Daily review of BTC interval 4HHello everyone, let's look at the BTC to USDT chart on a 4-hour timeframe. As you can see, we managed to get out of the downtrend line under which we were moving. Let's start with the support line and as you can see the first support in the near future is $16870, if the support is broken then the next support is $16801, $16743 and $16688. Now let's move to the resistance line, as you can see the first resistance is $17049, if you manage to break it, the next resistance will be $17140, $17265 and $17426. Looking at the CHOP indicator, we see that in the 4-hour interval we have a lot of energy for further movement, the MACD indicator indicates entering a local uptrend, and the RSI shows that we still have room for more growth.
by cryptodailyuk
BNB / USDT 4H INTERVAL, Resistance and supportSecond in today's review is the BNB chart on a four-hour time frame. At the beginning, we can mark with the white lines the sideways trend channel in which the price is moving and with the yellow line the local downtrend line we are under. Now, using the Trend-Based Fib Extension tool, let's check what support we have in the coming hours and days, as you can see, the first support on which the price is currently based is $ 283, but if it drops below, we have another support at $ 261 and the third at $ 244 . Looking the other way, we can check in the same way what resistances the price has to overcome first, and as you can see, we have the first resistance at $297, the second at $307, the third at $316 and the fourth at $323. As we can see, the CHOP index indicates that most of the energy in the four-hour interval has been used up, the MACD indicates entering a local downtrend, while the RSI is at the lower end of the range from which the price often starts to reverse. At this point, it is also worth marking the opposite directions on the chart and the RSI indicator with a blue line, such an arrangement often indicates a change in the trend.
by cryptodailyuk
SOL - USDT 4HChart, targets and stoplossHello everyone, let's look at the 4H SOL to USDT chart as you can see that the price is moving in the uptrend channel. Let's start by setting goals for the near future that we can take into account: T1 = $14.08 T2 = $14.20 T3 = $14.29 T4 = $14.38 and T5 = $14.52 Now let's move on to the stop loss in case the market goes down further: SL1 = $13.93 SL2 = $13.79 SL3 = $13.65 SL4 = $13.46 and SL5 = $13.20 Looking at the CHOP indicator, we see that the energy is slowly gaining strength on the 4H interval, while the MACD indicator indicates a local uptrend.
by cryptodailyuk
CHZUSDT 30M - Targets and StoplossHello everyone, let's take a look at the CHZ 30M to USDT chart as you can see that the price has moved above the local downtrend line. Let's start by setting goals for the near future that we can take into account: T1 = $0.1626 T2 = $0.1656 T3 = $0.1687 and T4 = $0.1706 Now let's move on to the stop loss in case the market goes down further: SL1 = $0.1609 SL2 = $0.1601 SL3 = $0.1594 and SL4 = $0.1588 Looking at the CHOP indicator, we see that the energy has been exhausted on the 30M interval and is slowly rebounding, while the MACD indicator indicates that we are close to confirming the trend change to an upward one, however, looking at the volume despite the visible green candles, we see that it is very low compared to the red candle.
by cryptodailyuk
Daily review of ETH interval 1DI invite you to a short overview of ETH in pair to USDT on a one-day interval. Let's start by marking, using the yellow lines, the triangle in which the price is currently moving. What's more, we can see that we are approaching the point where the price will have to choose the direction in which it will go down. Now let's go to check what resistances the ETH price has on its way up and for this we will use the Fib Retracement tool, as you can see the first resistance from which the price has already turned back is $ 1298, but if we overcome it, we have the next resistance at $ 1437, the next one is 1558 $ and $1666. Looking the other way, we will also check what supports we should take into account and here we immediately have two strong supports on the way, the first at $ 1129 and the second at $ 882. In this situation, however, it is worth using the Trend-Based Fib Extension tool with which we will check the support taking into account only the last move. And here we see that we have support at $ 1169 and $ 1081 where the price has already changed its direction, and then we have at $ 1011 and $ 940, it is worth taking them into account because the price often does not touch strong supports and starts turning around just before or behind these supports. Please pay attention to the CHOP index where we see that, similarly to the situation on BTC, most of the energy has been used, the MACD indicator indicates that we are moving in an uptrend, while the volume is very small and does not indicate any sudden movement.
by cryptodailyuk
ETH / USDT 4HChart - Targets And StopLossHello everyone, let's look at the 4H ETH to USDT chart as you can see that the price is moving above the uptrend line. Let's start by setting goals for the near future that we can take into account: T1 = $1272 T2 = $1281 T3 = $1310 and T4 = $1355 Now let's move on to the stop loss in case the market goes down further: SL1 = $1261 SL2 = $1251 SL3 = $1241 and SL4 = $1233 Looking at the CHOP indicator, we see that on the 4H interval, some energy has been used, but there is still some left to continue the movement, while the MACD indicator indicates a local downtrend.
by cryptodailyuk
1
XRP - USDT on 4H interval Targets and StoplossHello everyone, let's look at the 4H XRP to USDT chart as you can see that the price is moving below the local uptrend line, and within the triangle outlined by the blue lines. Let's start by setting goals for the near future that we can take into account: T1 = $0.3923 T2 = $0.3980 T3 = $0.4028 T4 = $0.4070 and T5 = $0.4133 Now let's move on to the stop loss in case the market goes down further: SL1 = $0.3865 SL2 = $0.3833 SL3 = $0.3799 SL4 = $0.3754 and SL5 = $0.3694 Looking at the CHOP indicator, we see that there is a lot of energy for a new move on the 4H interval, while the MACD indicator indicates a local downtrend.
by cryptodailyuk
2
Daily review of BTC interval 4HHello everyone, let's look at the BTC to USDT chart on a 4-hour time frame. Let's go to the chart and start by marking with blue lines the uptrend channel in which the price has been moving since November 21st. Now, taking into account the entire upward movement, it is worth marking the place of 0.61 Fib Retracement as a very strong support for BTC, then using the Trend-Based Fib Extension tool we will check what support we can consider in the near future based on the recent movement. Thus we see that we have the first support at $16920, the second support at 0.61 FIB is $16824, the third at $16680 and the fourth at $16507. It is also worth noting that the price has now turned back at a strong point of 0.61 Fib Retracement. Now let's move on to identify strong resistance based on all the downward movement seen in the chart, and here we'll mark the strong resistance at 0.61 Fib Retracement where the price turned down. However, taking into account the last move, we see that the first resistance from which the BTC price has already bounced once is at $ 17,103, if we overcome it and the previously determined strong resistance for the entire movement, the price will go higher to the resistance at $ 17,292, then $ 17,455 and 17,609 $. Let's pay attention to the CHOP index, which indicates that the energy is gaining more and more strength in the four-hour interval, the MACD indicator indicates a local downtrend, and on the volume we see the predominance of red lights that have more strength than emerging buyers.
by cryptodailyuk
VET/USD - 1w chart Update and my opinionLet’s have another quick look at the VET/USD 1w chart. Here is a closer look at this 1w chart. VeChain is still in its Descending Wedge Pattern on this 1w chart. Note that VET failed to close a weekly candle above its upper descending trend line of its Descending Wedge Pattern at around $0.0286. $0.0286 was also the previous high from Mon 23rd Jul 2018. VeChain is still below its Least Squares Moving Average (LSMA) on this 1w chart. VET is still below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1w chart. Note that the Lower Band has started to curve downwards indicating volatility for the downside on this 1w chart. Note that the 50MA (Orange Line) is getting really close to the 200MA (Red Line). If the 50MA crosses under the 200MA on this 1w chart that will create a death cross on this 1 week timeframe. VET is now fighting to stay above its support area located at $0.01978 and $0.0181. If VET closes a weekly candle below $0.0181 then we should drop to around $0.0120. VET is below its 1 ($0.01845) Trend Based Fib Extension Level. Failure to close a weekly candle above this level will lead to further drops. Looking at the Volume Profile Visible Range (VPVR) we can see the area i which the most Volume was traded on VET/USD. Note that VET is close to dropping under its 78.60% Fib Retracement Level at $0.01811. I have added a Modified Schiff Pitchfork pattern and you can clearly see that VET has a long way togo before crossing back above its Median Line. Looking at the Average Directional Index (ADX DI) we can see that the Trend Strength is still weak with the ADX (Orange Line) at 16.34 and still under its 9 Period EMA (Black Line). Positive Momentum has dropped with the +DI (Green Line) dropping to 16.39. Negative Momentum has Increased with the -DI (Red Line) rising to 24.32. Looking at the Relative Strength Index (RSI) we can see that there is still plenty of room for VET to drop before becoming Oversold on this 1w chart. Note that the RSI (Purple Line) is still under its 9 Period EMA (Orange Line) which is a sign of downwards strength on this 1w timeframe. So what does all this tell me: This is all just my opinion but this tells me that there is plenty of room for VET to drop further on this 1w timeframe especially if it closes a weekly candle below its 78.60% Fib Retracement level. Once this world wide recession fully bottoms be it in a 1 year, 2 years, 5 years or 10 years and the powers that be have had their fill of transferring wealth from the Middle Class and the Poor to the elites, then opportunities will arise for those who are ready. My crypto of choice is obviously VET and a few others that have use cases but this goes for all Crypto’s so soon your crypto of choice will be available at an even lower bargain price. Especially if/when BTC drops to the $12k-$9k range. Please see the chart below. I hope this is helpful with your trading or hodl-ing.
BINANCE:VETUSD
by TradingThroughTheLens
DAX 40 Bollinger Bands Long Strategy I am looking at trading the DAX today on the 4-hour chart. We have seen nothing but bearish momentum and looking for a bullish setup right now is pretty risky. This is why I have decided to grade this setup ( as it is a counter-trend ) as a ‘C’ Grade setup. Price has touched the bottom of the Bollinger bands and I am waiting for a bullish engulfing candle to show up with some strong bullish volume to accompany it. If we see close above previous candles taking out previous resistance with an engulfing candle, I will then place a fib retracement tool over the engulfing candle from the very bottom to the very top including the wicks. My long entry will be a pending order which will trigger once the price touches the 0.236 fib level. If we get an entry, my targets would usually be the very top of the Bollinger bands. However, I am a conservative swing trader and I know this is a counter-trend trade so I am willing to take profits off the table once the rice reaches the middle Bollinger band. As this is a counter-trend setup, I am only looking at a risk to reward of 1 to 1.5 I will also not be risking my usual amount. I will be risking less Looking left, we can see that price is in an area that has been respected as previous support and resistance. This gives me more confidence and confluence that the price is going to be calming down for the time being and that it will allow us to look for some setups. Hope you all have a great trading day. See you on the next one The Vortex Trader.
OANDA:DE30EURLong
by TheVortexTrader
BTC/USD 4hr chart analysisBTC/USD 4hr chart analysis: On the 17th, BTC had broken downwards out of its Ascending Wedge Pattern on this 4hr chart. BTC had found some support from its support level at around $21,264 but has now dropped below it. A successful 4hr close below this level will possibly take BTC to its support area at around $20,834 to $20,494. The Ichimoku Cloud Lagging Span (Chimkou Span) is indicating momentum is downwards at the moment. The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating that the mid-point of the short-term momentum is downwards at the moment. The Ichimoku Cloud Base Line (Kijun Sen) is indicating that the mid-point of the mid-term momentum is also downwards at the moment. Note that the Leading Span A (Senkou Span A) has crossed under the Leading Span B (Senkou Span B) creating a new bearish red cloud (Kumo) for this 4hr timeframe. Note that BTC is way below its Least Squares Moving Average (LSMA) for this 4hr timeframe. BTC is still well below its Bollinger Bands Middle Band Basis 20 Period SMA and still outside of its Bollinger Bands Lower Band. Note that the Upper band is also extending upwards. BTC has also found some resistance from its 1.618 ($21,577) Trend-Based Fib Extension level. Looking at the Average Directional Index (ADX DI) we can see that the Trend Strength is increasing with the ADX (Orange Line) at 28.22 above the 20 Threshold (White Dashed Line) and above its 9 Period EMA (White Line) at 20.40. Positive Momentum has dropped with the +DI (Green Line) at 7.84 and Negative momentum is upwards after the rise and drop with the -DI (Red Line) at 38.39. Interesting times and opportunities ahead. I hope this is helpful with your Trading and Hodl-ing.
BITSTAMP:BTCUSD
by TradingThroughTheLens
1
Short-term ADA / USDT analysis on the 1H intervalHello everyone, let's take a look at the 1H ADA to USDT chart as you can see the price is moving in the local downtrend channel. Let's start by setting goals for the near future that we can consider: T1 - $ 0.5378 T2 - $ 0.5421 T3 - $ 0.5456 T4 - $ 0.5490 and T5 - $ 0.5540 Now let's move on to the stop loss in case of further market declines: SL1 - $ 0.5319 SL2 - $ 0.5240 SL3 - $ 0.5178 SL4 - $ 0.5117 and SL5 - $ 0.5027 Looking at the CHOP indicator, we can see that the energy has been consumed in the 1H range, while the MACD indicator shows that the blue line is approaching the intersection of the red line from the bottom, which would confirm the local uptrend.
Short
by cryptodailyuk
2
AUD/USD Double Bottom Pattern On The 4-Hour ChartHi Traders, I hope you are all doing well today. It is Monday and the start of a brand new week. Let's smash those trades this week! Today I am looking at AUD/USD on the 4-hour time frame. We have an interesting double-bottom pattern playing out. I say interesting because the second bottom of the pattern wicked quite a bit lower than the first peak. Usually, I wouldn’t call that a double bottom but because of the clear divergence we see across the MACD, it enticed me enough to wait for an entry on this setup. Notice how the histogram and the MA lines across the MACD are both sloping upwards. This indicates true divergence as we can see that the sellers or the bears have been weakening, so we were waiting for the bulls to come back in and take control. I have highlighted the neckline in yellow. I wanted to see a break and close above this yellow neckline zone, which we clearly can see. Now I am waiting for a retrace back into the neckline to confirm that this area has been flipped from resistance to support. My long entry will be triggered once we see that retrace. I have used the trend-based fib extension to find my two targets. Notice on the chart how these two areas line up perfectly with previous areas of support and resistance. Target one is around the 0.6915 price level and target two is around the 0.699 price level. Remember, depending where you place your entry and your stop will result in your risk to reward fluctuating. I always aim for a minimum of one to two risk to reward. If we can get more than that’s great! But make sure your risk management is carefully monitored. Don’t risk more than needed. There are always further opportunities. So, let's see what happens with this one. As usual, I like to see lower bearish volume to accompany the retrace, otherwise, this bullish move could potentially just be a fakeout and we do not want to be caught on the wrong side of the trend. We are seeing some green today across the forex board so let's see if we can capitalize on these moves. I usually like to wait for Tuesday before jumping into any positions, but that clear divergence across the MACD interests me. However, if that retrace does not happen then so be it. We move on to the next one. Trade safe out there! Enjoy your Monday! The Vortex Trader
Long
by TheVortexTrader
VET/USD - weekly chart updateLooking at the VET/USD 1 week chart we can see that VET is in a massive Falling Wedge Pattern. A Falling Wedge Pattern is potentially a Bullish Reversal Pattern. Note that the APEX of the Falling Wedge Pattern is located around the end of October 2023. A weekly candle CLOSE BELOW the Lower Converging Trend-line can easily invalidate this pattern as we saw with the previous weekly Rising Wedge Pattern that got invalidated. Here is a closer look at this VET/USD weekly chart: At the moment of typing this, VET is still way below its 50MA, 100MA and 200MA. For the downside, be on the lookout for if/when the 50MA crosses UNDER the 100MA on this 1 week timeframe. For the upside, be on the lookout for if/when VET crosses back above its 200MA and successfully re-test it as support. VET is also still way below its Least Squares Moving Average (LSMA) for this 1 week timeframe. For the upside, be on the lookout for if/when VET crosses back ABOVE and COLSES a weekly candle ABOVE its LSMA creating a BUY Signal for this indicator on this 1 week timeframe, also look out for any successfully re-test as support. VET is still way below its Bollinger Bands Middle Band Basis 20 Period SMA for this 1 week timeframe. Note that both the Middle and Lower Bands are pointing downwards and the Upper Band is sideways at the moment. For the mid to longterm, VET needs to cross back ABOVE and CLOSE ABOVE its BB Middle Band Basis. Looking at VETs longterm Modified Schiff Pitchfork Pattern, we can see that VET is still way below its Pitchfork Median Line and has also found resistance from its Lower Green Resistance Line. Looking at the Trend-Based Fib Extension tool, we can see what levels VET has above and below it as potential Support and Resistance. Note that the 1 ($0.01845) Trend-Based Fib Extension Level is located roughly where the 78.60% ($0.1811) Fib Retracement Level is located. Looking at the Fib Retracement we can see that VET has the 78.60% ($0.01811) and 100% ($0.0857) Fib retracement Levels as potential support. I have added to areas of Support which i believe are of great interest as highlighted by the Horizontal Black Lines with Blue Shading. We can clearly see that VET has found strong Support from its first Support Area. The longer VET stays and keeps re-testing this area with lower highs, the more the support volume will be chipped away and VET will potentially drop further to its next support cluster. The Volume Profile Visible Range Point of Control (VPVR POC) is located at $0.004946 and you can see the increased volume cluster located from around $0.00857 to $0.00287. If VET drops to that level, we can expect a huge buying opportunity to cause a spike up. As you can see on this weekly chart, Traded Volume has been low since around Jun 2021 compared to what VET was getting from July 2018 to May 2021. Looking at the Average Directional Index (ADX DI) we can see that the Trend Strength is increasing with the ADX (Orange Line) rising to 17.129 and above its 9 Period EMA (Black Line) at 15.182. Note that Negative Momentum has dropped with the -DI (Red Line)at 28.041. Positive Momentum has also dropped with the +DI (Green Line) to 16.636. Looking at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is still in the Negative Zone under the 0.0 Base Line and has been in the Negative Zone since the week of the 13th Dec 2021. Note that the MACD Line (Blue Line) is slight curving upwards so be on the lookout if the MACD Line (Blue Line) crosses back above the Signal Line (Orange Line) creating a Buy Signal on this 1 week timeframe for this indicator. Looking At the Stochastic Indicator (STOCH) we can see that the %K (Blue Line) is still under its %D (Orange Line) and both lines are deep in the Oversold Zone and has been for the last 10 weeks. What is interesting is that VET has been in the Oversold zone a few times on this weekly timeframe and on 3 previous occasions VET has spent about 15-16 Weeks in this Oversold Zone before rising above 20. Could be one to watch. I still believe that there is a huge possibility that BTC will hit $12K especially with inflation and the recession we are in, if that happens then we can expect VET to at least WICK DOWN to its 2nd Support Area which is located by its 100% ($0.0857) Fib Retracement Level and its 1.414 ($0.096) Trend-Based Fib Extension Level. I would not get excited on tis weekly chart unless VET closes and successfully re-test as support its LSMA. For the Longterm, wee need VET to break back above and CLOSE a weekly candle ABOVE its Bollinger Bands Middle Band Basis and 200MA. Once this world recession is over and the Governments, The FED, The Bank of England ect ect have completely cleaned up from inflation and whatever else, then the Market Makers will eventually decide that the Path of Least Resistance to Profit is upwards. So once this recession and financial/crypto bear market is over, be it in a year, 2, or even 5 to 10 years. You need to position yourself to be able to buy back in on your crypto of choice and take full advantage of the next parabolic wave up. This is all just my opinion so please do your own research as its your money. I have tried to cram quite a lot in this post as this will probably be my last longterm VET/USD weekly chart post for a while unless something major happens so I hope this is helpful with your trading and hodl-ing.
BINANCE:VETUSD
by TradingThroughTheLens
1
Possible “Bottom” Targets Based on Elliott WaveBTC is currently correcting from an ATH of 69,000 in either an ABC zig-zag or a WXY combination wave and I've attempted to find possible bottom targets using Fibonacci clusters based on rules for both zig-zags and combo waves. Two ranges have appeared as a result of this study. First, is the range from 12,500 to 9800 and the second is a range from 4,500-3,400. A key level to watch is 10,800 which is the 1.618 of W where there could either be a bounce to the upside in a WXYXZ pattern or a continuation to the downside in an ABC. High Level Count: CME gaps within the ranges:
COINBASE:BTCUSD
by HelioHelix
BTC/USD - Weekly Chart Falling Wedge Pattern and a P WaveBTC is in a massive Falling Wedge Pattern. A Falling Wedge Pattern is potentially a Bullish Reversal Pattern. Note that the APEX of the Falling Wedge Pattern is around March/April 2024. BTC is in a Negative Ichimoku P Wave Pattern. BTC has been in 2 Previous P Waves from the all time high and both P Waves ended with further drops to the downside. BTC is also in a massive Ichimoku Y Wave Pattern. This gives us a new All Time High potential target for BTC if it does eventually rise and especially if its stays above the Lower Descending Trend-line of the Falling Wedge Pattern. BTC is still deep in the Bearish Zone of the Ichimoku Cloud on this 1 Week timeframe. Note that we have already had a Kumo (Cloud) Twist into a RED Bearish Cloud on this 1 Week timeframe. BTC is still below its 200MA. A successful WEEKLY CLOSE ABOVE the 200MA and successful re-test as support is crucial for any longterm uptrend to become viable. Note that BTC has closed 3 weekly candles below its 200MA. BTC is still below its Least Squares Moving Average (LSMA) on this 1 Week timeframe. BTC is still way below its Bollinger Bands Middle Band Basis 20 Period SMA. Note that both the Lower Band and Middle Band are pointing downwards and the Upper Band is pointing upwards but we may see the Upper Band curve and start moving downwards. At the moment of typing this, BTC has found some resistance from its 78.60% Trend-Based Fib Extension Level. At the moment BTC has found some support from its Descending Pitchfork Median Line. The Black Horizontal Trend-line at around $17,588 is a crucial level to watch. Looking at the Average Directional Index (ADX DI) we can see that The Trend Strength is Strong with the ADX (Orange Line) at 30.19 still above its 9 Period EMA (Black Line) at 24.70. Negative Momentum is slightly downwards with the -DI (Red Line) at 38.57 and Positive Momentum is also sideways within a range with the +DI (Green Line) at 12.18. From my opinion, if you are waiting to go long with BTC/USD for the Mid to Longterm, i would air on the side of caution at the moment because i still believe that £12K is a huge possibility especially with inflation increasing to help pay back the trillions of $ and billions £ printed during the covid pandemic to prop up the stock market. Mid to Longterm, we need to see a successful weekly close ABOVE the 78.60% Trend-Based Fib Extension level, the P Wave as well as the 200MA with a successful strong re-test as support on this 1 week timeframe. A successful close ABOVE the LSMA and successful re-test as support will also be a good sign of potential renewed Mid to Long-term upwards momentum. As usual, BTC needs to get back ABOVE and CLOSE a weekly candle ABOVE its BB Middle Band Basis. Until we see all of the above, then Mid to Longterm wise, it’s sideways within a range at best or downwards at worst. Again this is all just my opinion so please do your own research as its your money. I hope this is helpful with your Trading and Hodl-ing.
BITSTAMP:BTCUSD
by TradingThroughTheLens
2
VET/USDThis is a longterm analysis of a possible 3 year outlook for VET/USD using the 1 week chart. Here is a closer look at this VET/USD 1 week Chart. On this 1 week timeframe, VET has been back above its Least Squares Moving Average (LSMA) since the week of 7th March 2022. Note that a weekly close ABOVE the LSMA is considered a BUY SIGNAL for this indicator. VET is also back ABOVE its Bollinger Bands Middle Band Basis 20 Period SMA for this 1 week timeframe. Note that the Upper and Lower Bands are still contracting indicating VET still has plenty of room to move up or down before expansion kicks in and it becomes over extended on this 1 week timeframe. VET is Back ABOVE its 100MA (Red Line) but still BELOW its 50MA (Blue Line) on this 1 week timeframe. VET is in a massive Rising Wedge Pattern, the APEX of which is around the week of 5th - 12th May 2025 and is at around $8.8 as indicated by the Rising Converging Blue Lines. VET is also in a Triangle Pattern as indicated by the Converging Black Dotted Lines. Looking at the Trend-Based Fib Extension we can see that at the moment, VET has found some resistance from its 0.236 level at $0.0876. Note that the Fib Levels are based on Log Scale. VET closed the last weekly Volume Bar ABOVE its Volume 20 Period MA, in the Green and this weekly Volume Bar will also close ABOVE its Volume MA. VET is above its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed Range of 3 Weekly Candle that i have selected. Looking at the Moving Average Convergence Divergence (MACD), we can see that we have a BUY SIGNAL on this indicator for this 1 week timeframe because the MACD Line (Blue Line) has crosses back ABOVE the SIGNAL Line (Orange Line) creating a new Green Histogram. This is the first new BUY SIGNAL since the week of 25th Oct 2021 and it’s the first new Green Histogram since 22nd Nov 2022. Note that the MACD Line (Blue Line) is still in the Negative Zone under the 0.0 Base Line, so the next key thing will be when the MACD Line (Blue Line) crosses back over and ABOVE the 0.0 Base Line into the Positive Zone. Looking at the Relative Strength Index (RSI) for this 1 week timeframe, we can see that Momentum is upwards at the moment and the RSI (Purple Line) is back above its 9 Period EMA (Orange Line) and indicating upwards momentum strength. Note that the RSI (Purple Line) has plenty of room to move up before entering the Overbought Zone which is above 70 on this 1 week timeframe. Looking at the Average Directional Index (ADX DI) we can see that the Trend Strength is still weak with the ADX (Orange Line) at 14.51 under the 20 Threshold and under its 9 Period EMA (Black Line). Positive Momentum has increased with the +DI (Green Line) rising to 25.101 and ABOVE its -DI (Red Line) which is at 19.21. A very good sign on this 1 week timeframe will be if we continue to see the +DI (Green Line) expand further away from the -DI (Red Line) as well as the ADX (Orange Line) crossing back ABOVE its 9 Period EMA (Black Line) and AOVE 20 Threshold. With such a large rise on the Daily, we shouldn't be surprised if VET re-traces back to its LSMA or even its Bollinger Bands Middle Band Basis 20 Period SMA on the 1 day timeframe. Here is a look at the 1 day chart so you can see the Expansion of the Bollinger Bands. Note that VET found support today from its LSMA Level on the 1 day chart. Obviously a lot can happen and change in 3 years with the Crypto Market, VET can easily break ABOVE or BELOW and CLOSE a Weekly Candle ABOVE or BELOW the Rising Wedge Pattern's Trend Lines to invalidate it way before it ever gets to the APEX. The first crucial step for VET will be CLOSE a weekly Candle ABOVE its 0.236 Trend-Based Fib Level at 0.0876 and if needs be, to successfully re-test that level as strong support. Key things to look out for the potential start off on this VET/USD longterm 1 week timeframe in no particular order: For the Positive Side: 1: A successful close ABOVE the 0.236 Trend-Based Fib Extension level. 2: Expansion of the Upper and Lower Bollinger Bands while the Price is above the Upper Band. 3: A successful Weekly Close ABOVE the 50MA, 4: The BB Middle Band 20 Period SMA crossing back ABOVE the 50MA 5: The 100MA crossing back ABOVE the 50MA 6: The MACD Line (Blue Line) crossing back above the 0.0 Base Line into the Positive Zone 7: The ADX Line (Orange Line) crossing back ABOVE the 20 Threshold and its 9 Period EMA (Black Line). 8: A Weekly close ABOVE the Ascending Upper Blue Trend-line of the Rising Wedge Pattern. 9: A Weekly Close ABOVE the Upper Triangle Pattern Trend-line. 10: A successful close ABOVE the 50MA. For the Negative Side: 1: A successful close BELOW the 0.236 Trend-Based Fib Extension level. 2: A drop back UNDER the BB Middle Band Basis 20 Period SMA. 3: A Weekly Close back UNDER the 100MA, 4: A weekly Close back UNDER the LMA. 5: The 100MA crossing back ABOVE the 50MA 6: The MACD Line (Blue Line) crossing back UNDER the SIGNAL LINE (Orange Line) 7: The +DI (Green Line) crossing back UNDER the -DI (Red Line). 8: A Weekly close BELOW the Ascending Bottom Blue Trend-line of the Rising Wedge Pattern. 9: A Weekly Close BELOW the Lower Triangle Pattern Trend-line. 10: The RSI (Purple Line) crossing back UNDER its 9 Period EMA (Orange Line) I’m sure I’ve missed a few things but that’s probably enough of me rambling on. I hope this post is helpful with your Trading, Hodl-ing or DCA-ing.
BINANCE:VETUSD
by TradingThroughTheLens
10